Press release
Economic Growth Driving Forces In The Global Recreation Market: An Emerging Driver Transforming The Recreation Market Landscape
Recreation
What Is the Expected Recreation Market Size During the Forecast Period?
The dimension of the recreation market has significantly expanded in the last few years. It's projected to enlarge from $1677.97 billion in 2024 to $1792.57 billion in 2025, rising at a compound annual growth rate (CAGR) of 6.8%. Factors attributing to this growth in the previous period include available leisure time, economic circumstances, demographic shifts, urbanization, and governmental policies.
Anticipated to witness significant expansion, the recreation market is projected to reach a value of $2221.82 billion by 2029, with a compound annual growth rate (CAGR) of 5.5%. This promising forecasted growth is owing to factors such as virtual and augmented reality experiences, wellness, mindfulness, personalized leisure experiences, sustainable recreation, and inclusive recreation. Key trends forecasted for this period encompass outdoor adventure tourism, experiential tourism, digital detox retreats, food tourism, culinary experiences and community-based recreation initiatives.
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What Are the High-Growth Segments in the Recreation Market?
The recreation market covered in this report is segmented -
1) By Type: Amusements, Arts, Sports
2) By Age Group: Aged 35 and Younger, Aged 35-54, Aged 55 and Older
3) By Revenue Source: Media Rights, Merchandising, Tickets and Sponsorship
Subsegments:
1) By Amusements: Theme Parks, Water Parks, Arcade Games
2) By Arts: Performing Arts, Visual Arts, Cultural Events
3) By Sports: Team Sports, Individual Sports, Recreational Activities
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What Key Drivers Are Expected to Influence Future Recreation Market Growth?
Many developed and emerging nations' steady projected economic growth is fueling the expansion of the recreation market. To illustrate, TRADING ECONOMICS, an American supplier of economic data, reported that the United States had a GDP of approximately $27.36 trillion in 2023, accounting for about 25.95% of the global economy. With a yearly growth rate of 2.90% and a GDP per capita of $65,020.35. This persistent economic surge is projected to enhance investments in end-user markets, serving as a stimulus for the recreation market, with higher prosperity enabling customers to frequent recreation facilities.
Which Companies Hold the Largest Share Across Different Recreation Market Segments?
Major companies operating in the recreation market include The Hong Kong Jockey Club, The Walt Disney Company, China Sports Lottery, China Welfare Lottery, Sociedad Estatal Loterías y Apuestas del Estado S.A., Flutter Entertainment plc, Cinemark Holdings Inc., Tabcorp Holdings Ltd., Cineworld Group plc, Compagnie du Mont-Blanc S.A., Compagnie des Alpes S.A., Oriental Land Company Ltd., Cinplex Inc., Gym Group plc, City Sports & Recreation plc, Club de Futbol Intercity SAD, Guangzhou Jinyi Media Corp. A, Guangdong Jinma Entertainment Corp. Ltd., Grupo Sports World S.A.B. de C.V., Creative China Holdings Ltd., Herschend Family Entertainment Corp., Hall of Fame Resort & Entertainment Co., Country Club Hospitality & Holidays Ltd., Maruhan Corp., City Pulse Multiplex Ltd.
What Are the Latest Developing Trends in the Recreation Market?
The trend of implementing virtual and augmented reality technology in amusement parks to enhance customer experience is on the rise. Virtual reality creates a 3D, computer-simulated environment that users can interact with, while augmented reality turns the surrounding environment into a digital interface by introducing virtual objects into the real world. These technologies are being utilized in attractions like rides and theatres within amusement parks. As an example, Plopsaland De Panne, situated in De Panne, Belgium, has introduced a virtual reality wooden roller coaster named Heidi The Ride that can reach speeds exceeding 43 mph. Similarly, SeaWorld has inaugurated a new attraction, the Kraken Virtual Reality Roller Coaster, in Orlando. They also offer the Weave Breaker coaster that simulates the thrill of jet skiing. In addition, Universal Studios features The Walking Dead mazes equipped with augmented reality components.
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What Are the Emerging Geographies for The Recreation Market Growth?
Asia-Pacific was the largest region in the recreation market in 2024. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the recreation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Recreation Market?
2. What is the CAGR expected in the Recreation Market?
3. What Are the Key Innovations Transforming the Recreation Industry?
4. Which Region Is Leading the Recreation Market?
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